Boeing to face questions on potential CEO candidates, Spirit talks
The U.S. planemaker, which is reeling from a safety crisis sparked by a Jan. 5 mid-air door plug blowout on a 737 MAX 9 jet, is also expected to report its first revenue fall in seven quarters, according to LSEG data."I don't think anyone's going to be shocked by pretty bad ," said Tony Bancroft, portfolio manager at Gabelli Funds which owns 260,709 shares in Boeing. He expects the company to reiterate messages stressing safety.
Boeing is aiming to produce 50 737s and 10 787s per month in that timeframe, which it sees as key milestones as it works to accelerate its recovery from an earlier crisis after two MAX jets crashed in 2018 and 2019. Spirit CEO Patrick Shanahan, along with GE Aerospace CEO Larry Culp have been floated, among others, as possible successors to Calhoun. None have said they are pursuing the job.
Price remains an obstacle to a deal, a source familiar with the matter told Reuters last week. Spirit's Belfast plant which makes the wings for the Airbus A220 jet, for example, is losing money. The planemaker had consolidated debt of $52.3 billion and cash and cash-equivalents of $12.69 billion at the end of 2023. It had $10 billion of unused borrowing capacity on revolving credit line agreements.
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